Binance has announced the closure of its mining pool and all associated services, effective November 10. This decision marks the end of an operation that has been active for more than six years since its launch in April 2020.
The shutdown encompasses several features, including Cloud Mining, Pool Savings, and the Transaction Accelerator. Additionally, the exchange will disable mining pool APIs and hashrate notifications, ceasing the acceptance of hashrate submissions and mining shares after the deadline.
The company stated that the move follows a routine review of its product offerings, though it did not disclose specific reasons for the closure. Binance has advised users to transition their operations to alternative mining pools prior to the cutoff date.
Regarding financial settlements, the exchange confirmed that outstanding rewards, balances, and refunds will be processed following the shutdown, pending compliance checks. Users have until November 24 to retrieve historical payout data and records before the platform pages are permanently taken offline.
